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Plans for 7,000 new homes near Taunton Racecourse

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Taylor Wimpey says sections nearest Blackdown Hills will be ‘safeguarded from inappropriate development’

Artist's impression of new 'Taunton garden village' of 7,000 homes near Taunton Racecourse. CREDIT: Taylor Wimpey. Free to use for all BBC wire partners.

Artist’s impression of new ‘Taunton garden village’(Image: Local Democracy Reporting Service / Taylor Wimpey)

A major housebuilder has confirmed it will be submitting proposals for 7,000 homes as part of a new ‘Taunton garden village’ under the emerging Somerset Local Plan.

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The Somerset County Gazette reported in 2019 the Crown Estate had offloaded 1,200 acres of “productive farmland”, known as the Orchard Portman estate, to major developer Taylor Wimpey for the relatively modest sum of £12.5m.

Somerset Council recently launched the initial round of public consultation on its new Somerset Local Plan, which will ultimately determine where new housing and employment sites are allocated through to 2045.

Taunton resident David Orr condemned the plans in late June, arguing that they would lead to 9,000 new homes being constructed in an unsustainable location near Taunton Racecourse and cause permanent harm to the Blackdown Hills national landscape (formerly area of outstanding natural beauty, or AONB).

Taylor Wimpey has now confirmed it will be progressing with the proposals – albeit with the total number of homes being scaled back to around 7,000 – and has provided assurances that the sections closest to the Blackdowns will be safeguarded from inappropriate development.

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The bulk of the Orchard Portman site lies to the east of the racecourse, spanning the parishes of Orchard Portman, Stoke St Mary and West Hatch.

A small portion of the proposed development directly overlaps the boundary of the Blackdown Hills, wrapping around the existing Netherclay and Thurlbear woodland.

Taylor Wimpey submitted the site for consideration in the new Local Plan in February 2025, as part of the ‘call for sites’ (whereby developers, landowners and land promoters were invited to submit possible locations for development, to be assessed and narrowed down by the council’s planning department).

A draft vision for the development was circulated to local parish councils in the autumn of 2025, with several key organisations offering encouraging initial responses – among them Bishop Fox’s School, King’s College, the Somerset NHS Foundation Trust (which runs Musgrove Park Hospital) and the Somerset Chamber of Commerce.

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Only a partial masterplan for the site has been made public thus far, suggesting the development could feature a farm shop, an amphitheatre and a woodland trail.

A spokesperson for Taylor Wimpey said: “Our proposals for the new Taunton garden village include around 7,000 modern, energy-efficient and sustainable homes alongside schools, healthcare facilities, community spaces and infrastructure needed to create a self-sustaining community.

“We are working with a wide range of local stakeholders to shape the best version of this new community, including local schools, care home operators, the NHS, local charities, business partnerships, wildlife groups and Somerset Council.

“We are promoting the new garden village through the council’s Local Plan process and will continue to work with local stakeholders and communities as those plans evolve.”

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Partial masterplan of new 'Taunton garden village' of 7,000 homes near Taunton Racecourse. CREDIT: Taylor Wimpey. Free to use for all BBC wire partners.

Partial masterplan of new ‘Taunton garden village’ of 7,000 homes near Taunton Racecourse(Image: Local Democracy Reporting Service / Taylor Wimpey)

The current masterplan for the site (which has not been made public) includes a new primary and secondary school (including new special needs provision), a ‘healthcare hub’, a neighbourhood hub with a “dedicated mass transit route to the town centre”, commercial and office space, and affordable homes – including specialist children’s homes.

Taylor Wimpey has committed that “more than half of the site” will be retained as green space for “sport, recreation, food growing, equestrian use, children’s play and biodiversity enhancement” – and they will not construct homes within the boundary of the Blackdown Hills.

The consultation is running until July 24 and a summary of responses will be published in early November. The second round of consultation (including further details of proposed development sites) is anticipated to start in September 2027.

The third and final round of public consultation is presently scheduled to take place in March 2028, after which the Local Plan will be submitted to the Planning Inspectorate (which may hold additional public hearings if deemed necessary).

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If all proceeds smoothly, the new Local Plan will be formally adopted on March 16, 2029.

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Robert F. Abbott has been investing his family’s accounts since 1995, and in 2010 added options, mainly covered calls and collars with long stocks. He is a freelance writer, and his projects include a website that provides information for new and intermediate-level mutual fund investors. A resident of Airdrie, Alberta, Canada, Robert has earned Bachelor of Arts and Master of Business Administration (MBA) degrees.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Equity mutual funds gained up to 6% in last week of July. Check top 15 with over 3% gain

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Equity mutual funds delivered gains up to six percent in the last week of July. Top performers included technology and transportation sector funds which saw significant returns. SBI Technology Opp Fund and Aditya Birla SL Digital India Fund led the gains. ICICI Pru Transportation and Logistics Fund also performed well during this period. Several other tech and logistics funds also registered positive returns.

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Mutual fund NFOs: 7 new funds will open for subscription this week. Check dates

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Seven mutual fund NFOs from Kotak, Motilal Oswal, AlphaGrep, JioBlackRock, Edelweiss and Franklin India will open for subscription this week. The offers span index funds, ETFs, a fund of funds and a short-duration debt scheme, with minimum investments ranging from Rs 10 to Rs 5,000.

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Mcap of nine of top-10 most valued firms jumps Rs 2.51 lakh cr; Bajaj Finance biggest winner

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Mcap of nine of top-10 most valued firms jumps Rs 2.51 lakh cr; Bajaj Finance biggest winner
The combined market valuation of nine of the top-10 most-valued firms jumped Rs 2.51 lakh crore last week, with Bajaj Finance emerging as the biggest winner, in tandem with a positive trend in equities.

Last week, the BSE benchmark Sensex climbed 2,034.87 points, or 2.67 per cent, and the NSE Nifty surged 616.15 points, or 2.59 per cent.

“Markets staged a strong rebound during the week, snapping their recent losing streak as easing crude oil prices, improving geopolitical sentiment, encouraging Q1 FY27 earnings, and renewed foreign institutional investor (FII) buying lifted risk appetite,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

While Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack, Hindustan Unilever emerged as the only laggard.

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The market valuation of Bajaj Finance surged Rs 80,345.97 crore to Rs 7,10,817.51 crore, the most among the top-10 firms. Shares of NBFC Bajaj Finance on Friday ended over 8 per cent higher after the firm reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) for the June quarter of FY27.


Bharti Airtel’s valuation soared Rs 44,959.5 crore to reach Rs 12,30,005.63 crore.
The market valuation of TCS jumped Rs 40,414.03 crore to Rs 8,55,894.78 crore and that of Reliance Industries climbed Rs 39,447.35 crore to Rs 17,69,108.79 crore.The market capitalisation (mcap) of Larsen & Toubro rallied Rs 21,096.8 crore to Rs 5,41,844.69 crore and that of State Bank of India edged higher by Rs 10,845.97 crore to Rs 9,47,799.81 crore.

HDFC Bank’s mcap advanced Rs 8,164.73 crore to Rs 11,52,150.63 crore.

The valuation of LIC went up Rs 4,427.49 crore to Rs 5,37,435.05 crore and that of ICICI Bank climbed Rs 1,660.37 crore to Rs 10,29,878.30 crore.

However, the mcap of Hindustan Unilever declined Rs 10,326.46 crore to Rs 4,93,602.13 crore.

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Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.

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FPIs reverse 4-month selling trend with Rs 20,200 cr inflow in July

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FPIs reverse 4-month selling trend with Rs 20,200 cr inflow in July
After four straight months of selling, foreign investors turned net buyers of Indian equities in July, pumping in Rs 20,200 crore, aided by attractive valuations, improving corporate earnings and easing global headwinds.

The latest inflow marks a sharp reversal from the preceding months, when Foreign Portfolio Investors (FPIs) withdrew Rs 49,340 crore in June, Rs 32,963 crore in May, Rs 60,847 crore in April and a massive Rs 1.17 lakh crore in March, according to data from the Central Depository Services (India) Ltd (CDSL).

Prior to the four-month selling spree, FPIs had invested Rs 22,615 crore in Indian equities in February.

Despite the turnaround in July, foreign investors have pulled out a net Rs 2.54 lakh crore from Indian equities so far in 2026, way more than the Rs 1.66 lakh crore withdrawn during the whole of 2025.

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Market experts attributed the renewed foreign investor interest to relatively stable domestic markets, reasonable large-cap valuations, improving earnings prospects and a more favourable global environment.


V K Vijayakumar, Chief Investment Strategist at Geojit Investments, said excessive volatility in markets such as South Korea and Taiwan, coupled with concentration risk in the “chip trade”, is prompting FPIs to look for relatively stable markets like India.
The stability of the rupee and fair valuations of India’s large-cap stocks are other factors facilitating renewed FPI inflows into the country, he added.Vedant Gupte, Co-Founder and CEO of investment platform Trackk, said improving earnings prospects also strengthened investor sentiment, with June quarter results showing signs of recovery across key sectors.

IT stocks, in particular, witnessed a sharp re-rating as better-than-expected earnings helped ease concerns over the impact of artificial intelligence on the sector’s growth prospects, he said.

At the same time, easing pressure from the US dollar and expectations that US interest rates are near their peak have improved the investment environment for emerging markets, Gupte added.

Foreign investor interest was not limited to equities, with the debt market continuing to attract significant inflows during the month.

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FPIs invested Rs 29,212 crore in debt through the general route and another Rs 3,033 crore through the fully accessible route in July.

Going forward, the trajectory of foreign flows is likely to be influenced by both global developments and domestic triggers.

Pabitro Mukherjee, Deputy Vice President-Research at Bajaj Broking, said investors in the coming month will closely track crude oil price movements and developments in the ongoing US-Iran geopolitical tensions.

On the domestic front, the Q1FY27 earnings season and the RBI’s monetary policy scheduled for August 5 will remain in focus, he added.

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